LIPA needs more oversight

To the Editor:

I recently co-sponsored legislation in the New York State Senate that would, if passed, require the Long Island Power Authority to get approval from the New York State Public Service Commission before raising its rates.

The Assembly recently passed the measure, and the Senate passed it in April. Now Governor Cuomo must sign the measure.

Long Islanders cannot afford to keep paying some of the highest utility costs in the country. We need greater oversight of LIPA. Requiring PSC review and approval of LIPA rate increases would give new protections to ratepayers and make LIPA more accountable and transparent to Long Islanders. I hope that Governor Cuomo will sign this legislation into law when it reaches his desk.

     The legislation (S2581) would create greater oversight of LIPA by requiring the company to notify the PSC before implementing an increase in average customer rates exceeding 2.5 percent over 12 months. Those hikes, as well as extensions or re-establishment of any portion of a temporary rate increase over 2.5 percent, would also be subject to a full evidentiary hearing and could not move forward without approval by the PSC.

     LIPA customers have long questioned the company’s handling of their ratepayer dollars. LIPA disclosed two overcharges earlier this year, which cost ratepayers a combined $367 million. I held a public hearing in April to examine these overcharges, LIPA’s financial practices and what other measures are needed to improve oversight of LIPA. I also requested an independent and comprehensive audit of LIPA following the hearing.

Charles Fuschillo Jr.

State senator, 8th District